The Truth About Obama’s Record

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I’ve got some good news and some bad news for you today:

A broad overhaul of the nation’s financial regulatory system, intended to address the causes of the 2008 economic crisis and rewrite the rules for a more complex — and mistrustful — era on Wall Street, cleared one last procedural hurdle in the Senate on Thursday as it headed for final Congressional approval later in the day.

….With the Senate poised to send the bill to President Obama for his signature, the White House was already planning a ceremony — sometime next week — to mark completion of another landmark piece of legislation, following the enactment of the historic health care bill in March and last year’s major economic stimulus program.

Here’s the good news: this record of progressive accomplishment officially makes Obama the most successful domestic Democratic president of the last 40 years. And here’s the bad news: this shoddy collection of centrist, watered down, corporatist sellout legislation was all it took to make Obama the most successful domestic Democratic president of the last 40 years. Take your pick.

In any case, I think this probably marks the end of Obama’s major legislative agenda. I don’t give Congress much chance of passing a climate bill, and after the midterms the Democratic majority will either be gone or significantly reduced, making large-scale legislation just about impossible.

Still, if you’re a liberal, this is the best you’ve had it for a very long time. Whether this is cause for cheer or cause for discouragement is, I suspect, less a reflection on Obama than it is on America writ large.

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Thank you!

We didn't know what to expect when we told you we needed to raise $400,000 before our fiscal year closed on June 30, and we're thrilled to report that our incredible community of readers contributed some $415,000 to help us keep charging as hard as we can during this crazy year.

You just sent an incredible message: that quality journalism doesn't have to answer to advertisers, billionaires, or hedge funds; that newsrooms can eke out an existence thanks primarily to the generosity of its readers. That's so powerful. Especially during what's been called a "media extinction event" when those looking to make a profit from the news pull back, the Mother Jones community steps in.

The months and years ahead won't be easy. Far from it. But there's no one we'd rather face the big challenges with than you, our committed and passionate readers, and our team of fearless reporters who show up every day.

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